Consider the following note payable transactions of Campbell Video Productions. 2018 Jun.Jun. 1 Purc

Consider the following note payable transactions of Campbell Video Productions.

2018

Jun.Jun. 1 Purchased equipment costing$176,000 by issuing an eight​-year, 66​%
note payable. The note requires annual principal payments of $22,000 plus interest each June 1.

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Dec. 31

Accrued interest on the note payable.

2019

Jun.Jun. 1

Paid the first installment on the note.

Dec. 31

Accrued interest on the note payable.

Requirements

1.

Journalize the transactions for the company.

2. Considering the given transactions​ only, what are CampbellCampbell Video​ Productions' total liabilities on December​ 31, 2019​?

Jun.​1,2018​: Purchased equipment costing $176,000by issuing an eight​-year, 66​% note payable. The note requires annual principal payments of $22,000

plus interest each June 1.

Date

Accounts and Explanation

Debit

Credit

2018

Jun. 1

Choose from any list or enter any number in the input fields and then click Check Answer.

And,

Moore Company issued a $125,000​, 7.0​%, 22​-year bond payable. Journalize the following transactions for Moore ​Company, and include an explanation for each​ entry:

a. Issuance of the bond payable at face value on January​ 1,2018.

b. Payment of semiannual cash interest on July​ 1, 2018.

c.

Payment of the bond payable at​ maturity, assuming the last interest payment had already been recorded.​ (Give the​ date.)

​(Record debits​ first, then credits. Select explanations on the last line of the journal​ entry.)

a. Issuance of the bond payable at face value on January​ 1, 2018.

Date

Accounts and Explanation

Debit

Credit

2018

Jan. 1

 

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